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Category: INVESTMENTS

  • Global Attention Towards Africa Sours

    Global Attention Towards Africa Sours

    By: Mohammed A. Abu

    The 6th of March this year witnessed the Canadian Government’s launch of Canada-Africa Strategy-A Partnership for Shared Prosperity and Security.

    “With this strategy, Canada is leveraging its long-standing partnerships with African countries to unlock unprecedented opportunities for prosperity and stability from which Canadians and the African people can mutually benefit for years to come,” said the Hon. Mélanie Joly, Minister of Foreign Affairs

    This comes on the back of the African Union and Japan’s expression of commitment to co-creating a Sustainable Future for Africa at a Ministerial meeting ahead of the Tokyo International Conference on African Development(TICAD) 9 Summit last year.

    On the occasion of the launch, a number of stakeholders, including Canada-Africa Chamber of Business members, were invited by the Government of Canada to join a briefing with PS Rob Oliphant, Parliamentary Secretary to the Minister of Foreign Affairs.

    Invited Canada-Africa Chamber of Business members briefly convened for networking and information-sharing, over light refreshments, immediately preceding the briefing. “Aligned with the African Union’s continental blueprint, Agenda 2063: The Africa We Want, Canada’s Africa Strategy was developed over a 2-year period through extensive consultations with Canadian and international stakeholders and African partners and stakeholders,” noted Global Affairs Canada.

    “PS Rob Oliphant effectively described the strategy as the basis for a work plan to which all stakeholders are invited to co-create and deliver as Team Canada,” said Paula Caldwell St-Onge, Chair of the Board of the Canada-Africa Chamber of Business.

    The Chair added: “I am delighted so many Chamber members and sponsors have re-committed to their ongoing work across African markets –  through economic engagement as businesses, in addition to supporting conference programs open to all Canadian companies and African counterparts. Ongoing discussions on this first-ever Africa Strategy will be included in upcoming conferences in Canada and African markets, to accelerate Canada-Africa trade and investment.”

    The Chamber encourages all to get involved in the work plan process as it pertains to the role of businesses, and is committed to ongoing information-sharing, in line with our mission, to further the development of commercial ties – through networking and the exchange of best practice and innovation that enables economic prosperity for all.

    As a non-partisan business organization, the Chamber also thanks and recognizes all elected leaders – from various parties and economic portfolios – both for their invitations to Chamber members to engage directly, as well as their participation in Chamber events as invited guests. Our members look forward to ongoing engagements on trade and investment, in the context of the private sector’s role in market-driven growth.

    A number of Canada-Africa Chamber of Business members attended, following the briefing with their perspectives, and commitments, in support for Canada’s presence in African markets:

    “We applaud the Honourable Minister Joly, Honourable Minister Ng, Honourable Minister Hussen, and Parliamentary Secretary Rob Oliphant on the launch of Canada’s first Africa Strategy,” said Christopher Berschel, CEO of Sealion Cargo Inc, a Chamber member who was among the invitees: “This unified direction, underpinned by a long standing partnership and joint cooperation, lays out 5 key foundational pillars that Canadians and the 54 African nations can stand behind, with a joint sense of drive and pride. As the strategy turns to execution, we – together with The Canada Africa Chamber of Business – look forward to active participation in the development of new connections, new trade facilities, and streamlined trade solutions for both imports and exports.”

    Over 600 attendees joined Africa Mining Breakfast and MineAfrica’s 23rd Annual Investing in African Mining Seminar

    The Canada-Africa Chamber of Business 26th Annual African Mining Breakfast & MineAfrica’s 23rd Annual Investing in African Mining seminar presented by Hatch featured 56 speakers and 620 attendees throughout the morning on March 4th at the Sheraton Hotel.

    The breakfast featured addresses from numerous leaders, including:
    –    The Hon. Ahmed Hussen, Canada’s Minister of International Development
    –    The Hon. Emmanuel Armah-Kofi Buah, Minister of Lands and Natural Resources, Republic of Ghana
    –    Abdul Rahman Amoadu, Managing Director – Africa and Canada, Newmont
    –    Paul Lefebvre, Mayor, City of Greater Sudbury
    –    Joe Lombard, Vice-Chair, Hatch
    –    Paula Caldwell St-Onge, Chair, The Canada-Africa Chamber of Business

    MineAfrica’s spotlight sessions also featured country overviews by African Mining Ministers, project updates by mining CEOs and presentations on current trends in African mining by expert advisers. MineAfrica also had 11 exhibitors (and 85 delegates) in the PDAC Trade Show.

     Africa CEO Forum, Abidjan, May 11-14

    The Canada-Africa Chamber of Business is also partnering in the delivery of the Official Canadian Reception and concurrent program during the Africa CEO Forum, the continent’s largest annual event dedicated to the private sector bringing together over 2,000 business leaders, investors, policymakers, and influential figures from around the world in Cote d’Ivoire this year.

    The Canada Program includes a welcome reception for the Canadian delegation on May 11th, bringing together the business community and other guests at the Official Residence of the Canadian Ambassador in Côte d’Ivoire. The program runs through to May 14th and will also include a networking breakfast, B2Bs, a business panel and informal networking opportunities.

    Supporting the call of the Canadian Embassy to Côte d’Ivoire, the Chamber is encouraging Canadian businesses to participate in the Africa CEO Forum to access rapidly growing markets and explore strategic partnerships in key sectors such as agribusiness, clean technologies, ICT, and infrastructure. In addition to the Chamber’s support for its members in Abidjan, Canada’s Trade Commissioner Service stands ready to assist all Canadian companies attending.

    SOURCE

    The Canada-Africa Chamber of Business

  • ARISE IIP secures $450 million Afreximbank facility for industrial parks, Special Economic Zones development

    ARISE IIP secures $450 million Afreximbank facility for industrial parks, Special Economic Zones development

    In a significant move aimed at boosting industrial development across Africa, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) signed a US$450 million global credit facility with ARISE IIP, the leading pan-African developer and operator of world-class industrial parks.

    This financing will support the development of industrial parks and Special Economic Zones (SEZ), while also providing crucial trade finance support to businesses operating within the ARISE IIP ecosystem. 

    The US$ 450 million, granted in the context of Afreximbank’s strategic objective of promoting, facilitating, and supporting Africa’s industrialisation ecosystems, is part of a proposed US$ 800-million facility to support ARISE IIP in developing Industrial Parks (IPs) and SEZs in such countries as Nigeria, Cote d’Ivoire, Chad, Kenya, Democratic Republic of Congo (DRC) and Malawi, among others.

    Under the terms of the facility agreement, ARISE IIP will deploy US$ 300 million to finance working capital requirements for its operating Industrial Parks (GDIZ-Benin, PIA-Togo, LAHAM TCHAD-Chad, PEIA-Cote d’Ivoire and BSEZ-Rwanda) and for capital expenditures for the development of new industrial parks in DRC, Kenya, Chad, Nigeria and Cote d’Ivoire.

    ARISE IIP will deploy the remaining US$ 150 million to develop an industrial park in Lilongwe, Malawi, and as trade finance for the activities of its export trading company in Malawi under Afreximbank’s Export Agriculture for Food Security initiative.

    Signing the agreement on behalf of ARISE IIP was Arvind Arora, the Chief Treasury Officer, while Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, signed on behalf of Afreximbank.

    Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank said: “The facility reflects Afreximbank’s ongoing commitment to mobilising financial and technical resources towards the promotion of industrialisation across Africa. This is our way of supporting value addition and structural transformation of African economies.

    We remain eager to collaborate with key stakeholders to build trusted partnerships and to industrialise African countries. Afreximbank strongly believes that IPs and SEZs are veritable tools that Africa can deploy to fast-track industrial infrastructure development and to promote intra-African trade and export development.

    With ARISE IIP as an established developer and operator of IPs and SEZs on the continent, we are confident that this facility will contribute to supporting the continental industrialisation agenda.” 

    Arvind Arora, Chief Treasury Officer of ARISE IIP remarked: “The US$450 million facility represents a major step forward in supporting Africa’s industrialisation efforts. This financing covers critical working capital and capital expenditure needs across various countries, addressing the diverse requirements for industrial development. Africa’s infrastructure investment gap, currently exceeding US$100 billion annually, significantly impacts the continent’s living conditions and its global competitiveness. At ARISE IIP, we are committed to working with strategic partners around the world to bridge this gap and accelerate industrialisation across the continent.” 

    The development of the new IPs and SEZs, along with the expansion of activities in the existing IPs, is expected to result in the attraction of 230 tenants, bringing in an estimated investment of US$ 1.7 billion over the next five years, while total exports from the new IPs and SEZs, once in operation, would reach US$ 5 billion over the five-year period, with domestically-sourced goods and services reaching US$ 3.4 billion.

    In addition, the new investments in the IPs and SEZs are expected to contribute to the creation of 32,000 direct jobs and 138,000 in-direct jobs.

    Afreximbank has been working with ARISE IIP as a strategic partner, focusing on industrialisation initiatives across Africa. The collaboration has seen the Bank and Arise working together on various projects including a USD 5 Billion Africa Textile Renaissance Plan, which intends to create 500,000 MT of African cotton transformation capacity and 500,000 jobs.

    The Fund for Export Development in Africa (FEDA), Afreximbank’s development impact investment arm, invested USD 300 million in the latest fundraising round, which concluded in October 2024. During this round, Arise IIP raised a total of USD 443 million.

    Distributed by APO Group on behalf of Afreximbank.

    Contact details: 
    Vincent Musumba
    Manager, Communications and Events (Media Relations) – Afreximbank
    press@afreximbank.com

  • A New Dawn for African Sports: Unlocking Transformational Investment in Community Sports Infrastructure

    A New Dawn for African Sports: Unlocking Transformational Investment in Community Sports Infrastructure

    LAGOS, Nigeria, March 4, 2025/ — The Sports Africa Investment Summit 2025 has marked a pivotal moment in Africa’s journey toward sports industrialisation and economic transformation.

    Over two electrifying days in Lagos, the summit, hosted by Sport Nigeria Ltd/Gte (www.SportNigeria.ng) in partnership with the Office of the Presidency and the National Sports Commission, brought together a powerful coalition of stakeholders—government representatives, UNESCO, AFREXIM Bank, Development Finance Institutions (DFIs), investors, and sports industry leaders—all united by a shared vision: to unlock the immense potential of sports as a driver of economic growth, job creation, and community development across Africa.

    At the heart of this historic gathering was the signing of a groundbreaking technical agreement between the Abia State Government and Sport Nigeria Ltd/Gte, paving the way for Africa’s first-ever Sports Special Economic Zone (SSEZ).

    This visionary initiative will transform Abia State into a global hub for sports goods manufacturing, leveraging Aba’s legendary craftsmanship, entrepreneurial spirit, and industrial excellence.

    Aligned with Nigeria’s Industrial Revolution Plan (NIRP) and the African Continental Free Trade Area (AfCFTA), the SSEZ is poised to become a beacon of innovation, trade, and industrialisation, creating thousands of jobs and empowering local businesses.

    According to Hon. Nwaobilor Ananaba, Commissioner for Sports, Abia State, “The Special Sports Economic Zone is a game-changer for Abia State and Nigeria at large. Under the visionary leadership of His Excellency, Dr. Alex Otti, OFR we are committed to driving a collective agenda that will transform Abia into the premier hub for sports goods manufacturing and infrastructure development.

    This project is a bold step toward job creation, youth empowerment, and economic diversification, and we will work tirelessly to ensure its full realisation with our partners, Sports Nigeria.”

    The summit’s robust discussions underscored the pressing need for innovative financing models, capacity-building initiatives, and diaspora engagement to sustain long-term development.

    According to Mr. Chinedum Chijioke, Chair of the Abia State Investment Office, “The signing of this agreement marks the beginning of a transformative journey to attract global investments and build an ecosystem where sports, commerce, and industry thrive together. We are dedicated to fostering strategic partnerships that will actualise this vision and create lasting economic impact.”

    The summit also saw the formal launch of Spaces 4 Sports, Sport Nigeria’s flagship initiative designed to address Africa’s sports infrastructure deficit at the grassroots level.

    This cluster-based model will integrate community sports hubs across the continent, providing accessible facilities that encourage mass participation in sports, particularly within the education sector.
    By embedding sports into daily life, Spaces 4 Sports aims to achieve a 50% increase in mass sports participation, enhance youth engagement, and accelerate progress toward the Sustainable Development Goals (SDGs) and Africa Union Agenda 2063, using sports as a catalyst for education, health, and gender inclusivity.

    The message from the summit was clear: Africa’s sports economy is ready to take off, but it will require bold investments, visionary leadership, and strategic partnerships to realise its full potential.

    This point was emphasised by Ms. Nkechi Obi, CEO of Sport Nigeria Ltd, “Sports is more than entertainment—it’s an industry, a business, and a force for economic transformation. Abia’s Sports Special Economic Zone is the first of its kind, but it won’t be the last. We are setting a precedent that others will follow.”

    The private sector has a critical role to play in bridging the infrastructure gap and unlocking the industry’s potential. With sports serving as a multi-billion-dollar industry globally, Africa is uniquely positioned to harness its youthful population, raw talent, and market demand. Strategic investment in sports infrastructure will not only drive economic growth but also create employment, boost tourism, and elevate Africa’s global sporting competitiveness.

    Mr. Yahaya Maikori, Vice Chairman of Sport Nigeria, notes that “We don’t need more talk—we need action. This SSEZ is our action plan. The world is watching, and investors are ready. Now is the time.”

    The foundation has been laid. The partnerships are forming. Now is the time for investors, DFIs, and Africa-focused development organisations to step forward and seize this unprecedented opportunity. The future of African sports is not on the sidelines—it’s in the factories, the training centers, the research labs, and the boardrooms.

    The call to action is clear: Invest in Africa’s sports future. Build the infrastructure. Empower the youth. Transform communities. Together, we can change the game.

    Distributed by APO Group on behalf of Sport Nigeria Ltd.

    For investment inquiries or partnership opportunities, please contact: 

    Sport Nigeria Ltd/Gte
    Email: sais@sportnigeria.ng ; info@sportnigeria.ng
    Website: www.SportNigeria.ng

    Media Contact: 
    Sport Nigeria Communications
    Email: sais@sportnigeria.ng
    Phone: 0706 203 8705

    SOURCE
    Sport Nigeria Ltd

  • President Ramkalawan Inaugurates Vista Heights Estate in Glacis

    Under the theme “Peace and Harmony,” President Wavel Ramkalawan presided over the official inauguration of the Vista Heights Estate in the Glacis district yesterday afternoon.

    The project, a joint initiative with the Qatar Fund in collaboration with the Government of Seychelles, commenced in September 2023 and was completed in December 2024, with a total investment of SCR 11.8 million.

    The new residential development comprises 12 two-bedroom apartments, providing homes for 12 families from the district.

    A key highlight of the ceremony was the unveiling of a commemorative plaque by President Ramkalawan and the Minister for Land and Housing, Billy Rangasamy, followed by the symbolic handing over of keys to the new residents. The estate also features a spacious parking area, a children’s playground, and a volleyball court.

    In her welcoming address, Regina Esparon, Member of the National Assembly for Glacis, congratulated the new tenants and urged them to protect their new homes:
    “Respect your new compound against vandalism, anti-social and illegal activities.”

    In his address, the Minister for Land and Housing Mr. Billy Ramgasamy expressed that it was “a delightful honour to inaugurate the new housing estate in the Glacis District after 20 years of no housing development.” Explaining the inspiration behind the name Vista Heights, he referenced its location next to the former Vista Do Mar Hotel.

    “This is clear evidence of the Government’s commitment to ensure affordable housing for its people,” Minister Rangasamy stated, urging residents to uphold strong community values and responsibly manage their home repayments. He expressed hope that the new estate would serve as a model neighborhood, fostering harmony and positive social behaviour.

    The ceremony also featured a poetry recital and musical performance by students from Glacis Primary School, reflecting on the values of peace and community.

    This latest development underscores the Seychelles government’s continued efforts to enhance housing infrastructure through strategic international partnerships.

    Among the distinguished attendees were Minister for Internal Affairs Errol Fonseka, Minister for Local Government and Community Affairs Rose Marie Hoareau, Hon. Clifford Andre, Member of the National Assembly for Anse Aux Pins, Principal Secretary for Land, Mr Denis Barbe, Chief Operating Officer of SIA Keith Arnephy, district administrators, officials from the Ministry of Land and Housing, representatives from the Seychelles Infrastructure Agency, the new residents of Vista Heights Estate, and other esteemed guests.

    SOURCE

    State House,Seychelles 

     

  • Top Reasons to Invest in Ghana’s Mining Industry

    Top Reasons to Invest in Ghana’s Mining Industry

    ACCRA, Ghana, March 4, 2025/ — Ghana’s mining industry stands as a key driver of economic growth – with GDP projections reaching 1.5% by 2025 (https://apo-opa.co/4klB6s7) – fueled by expanding opportunities within the sector.
    A stable political and business environment, coupled with the discovery of new mineral reserves and a well-established mining ecosystem, Ghana is an attractive investment destination for global mining institutions.

    The upcoming Mining in Motion Summit, taking place in Accra on June 2 – 4 will further highlight lucrative investment opportunities, connecting Ghanaian stakeholders with international financiers and technology providers to enhance collaboration across the mining value chain.

    Rich Mineral Resources 

    Ghana leads Africa in gold production and ranks 6th globally. In 2024 alone, artisanal miners contributed over $5 billion in foreign exchange earnings, underscoring the vast potential of Ghana’s gold sector. Ongoing industrial-scale projects like Goldstone’s Homase Mine Expansion, Cardinal Namdini Mine and Newmont’s Ahafo North Project continue to expand investment opportunities in the gold industry.

    In addition to gold, Ghana is the world’s 4th-largest manganese producer, presenting attractive prospects for investors seeking exposure to high-value minerals.

    The country’s untapped reserves of lithium, iron ore and bauxite also offer substantial growth potential as the demand for these minerals expand owing to the energy transition.

    Strong, Investor-Friendly Regulatory Framework 

    Ghana introduced incentives including as tax breaks, customs duty exemptions and foreign ownership rights, attracting significant foreign direct investment. For example, Atlantic Lithium secured $6.7 million to accelerate the Ewoyaa Lithium Project, while Asante Gold committed $525 million to expand its Bibiani and Chirano Mines.

    Policies such as the Green Minerals Policy (2023) streamline entry for critical mineral investors, while the Equipment Tracking Regulations (2020) simplify equipment procurement and transportation processes for mining projects.

    Skilled Workforce Availability 

    Ghana’s mining history has fostered a highly skilled workforce, making it easier for international investors to recruit trained personnel for their operations.

    Partnerships with global institutions, including the World Bank, have led to initiatives like the Ghana Landscape Restoration and Small-Scale Mining Project, which equips miners with modern, sustainable practices.

    Additionally, programs focused on apprenticeship, mentorship and capacity-building continue to enhance the local workforce. AngloGold Ashanti graduated 1,010 apprentices in October 2023 and added 140 more in February 2024, supporting Ghana’s local content development.

    Infrastructure Readiness 

    Ghana’s infrastructure readiness further strengthens its appeal as a mining investment hub. Recent developments include the inauguration of the Royal Ghana Gold Refinery in Accra in August 2024, which allows for local gold processing, streamlining operations and boosting export revenues through the sale of refined gold.

    The Ministry of Lands and Natural Resources in collaboration with testing laboratories company Intertek launched a new testing laboratory (https://apo-opa.co/3FeePMx) in Tarkwa, in 2023.

    The laboratory offers faster mineral sample analysis for over 500 exploration projects and 23 large-scale operations. Furthermore, the continuous modernization of the Tema and Takoradi ports has improved export logistics, ensuring that Ghana’s minerals reach international markets efficiently.

    Amid these investor-friendly conditions established by Ghana, Mining in Motion will further unveil burgeoning and lucrative opportunities within the West African nation’s mining sector. The summit will serve as a platform to connect stakeholders, foster partnerships, and facilitate deal signings that drive growth and investment.

    Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting ASGM and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting www.MininginMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org. 

    Distributed by APO Group on behalf of Energy Capital & Power.

    SOURCE

    Energy Capital & Power

  • Toward an Energy Hub: Ghana Commits to Accelerated Investment Drive

    JOHANNESBURG, South Africa, February 27, 2025/ — Ghana is positioning itself as a major hub for energy investment, with the Ministry of Energy and Green Transition pledging to attract key players from the oil, gas and renewable energy sectors.

    On the sidelines of International Energy Week in London, Ghana’s Minister of Energy and Green Transition John Abdulai Jinapor and the African Energy Chamber (AEC) (https://EnergyChamber.org/) – the voice of Africa’s energy sector – emphasized Ghana’s readiness to welcome investment and create a favorable business environment for foreign and regional firms.

    During the meeting, the AEC also pledged to conduct a working visit to Ghana, focusing on identifying investment and collaboration opportunities.

    Together, the AEC and the Ministry of Energy and Green Transition aim to drive growth and development in the country’s energy sector, promoting fiscal frameworks that reinforce Ghana’s position as an attractive destination for oil, gas and energy investors.

    As part of these efforts, a dedicated “Invest in Ghana” Forum will be held at African Energy Week: Invest in African Energies 2025 in Cape Town, where the AEC will coordinate with the Ministry of Energy and Green Transition, Ghana National Petroleum Corporation (GNPC), the National Petroleum Authority, the Petroleum Commission and private sector players to position Ghana as the go-to destination for oil and gas investments from both G20 and non-G20 countries.

    With oil reserves of 1.1 billion barrels and gas reserves of 2.1 trillion cubic feet (World Bank), Ghana has committed to increasing production through enhanced investment in exploration and field development programs. The country has more than 17 oil and gas projects scheduled for development by 2027, and recent and upcoming regulatory reforms are expected to further bolster investment and foreign participation in the sector.

    Notably, the country’s Gas Master Plan – a market growth strategy through 2040 – incentivizes capital and technology deployment across the gas value chain, while upcoming fiscal reforms are expected to stimulate spending in the oil market.

    These reforms include planned amendments to laws requiring companies to allocate at least 15% of each project to the state as free and carried interest, as well as more flexible oil royalty regimes.

    In collaboration, the AEC and the Ministry of Energy and Green Transition seek to ensure Ghana continues to attract the right kind of investment, with additional reforms encouraging operators to expand their portfolios and new players to seize opportunities in the country.

    Several major operators are already active in Ghana’s energy market. Energy giant Eni, for example, has a presence across exploration, refining and chemicals sectors. The company is involved in the Offshore Cape Three Points (OCTP) exploration project and the offshore CTP 4 block. OCTP serves as an integrated project for developing oil and gas fields, featuring the Agyekum Kufuor FPSO. Independent energy company Tullow Oil is also a key player in Ghana, with production from the Jubilee and TEN fields amounting to 100,000 bpd and 10,100 bpd, respectively.

    In partnership with Kosmos Energy, Tullow Oil began production at the Jubilee South East project in 2023, with three new wells brought onstream in Q1 2024.

    Other major projects include the Pecan Phase 1A Upstream Project – developed by global energy firm Aker Energy, GNPC, Russian multinational Lukoil and maritime engineering and energy company Bulk Ship & Trade – and the Ntomme Far West Development. Pecan Phase 1A is currently in the approval stage, with production scheduled for 2025, while Ntomme is in the pre-feasibility stage, with progress made towards drilling the first well. Energy major TotalEnergies is also active, operating several petroleum depots in the country.

    In the downstream sector, Ghana is working to develop an integrated petroleum hub – the first of its kind in West Africa.

    The government finalized agreements in June 2024 to develop the initial phase of the project, supported by funding from the TCP-UIC private sector consortium. This multi-phase development will include three refineries, five petrochemical plants, storage tanks, jetties, a port and associated LNG and logistics infrastructure.

    “These projects affirm that Ghana is open for business. The country has been proactive in establishing regulatory frameworks that support million-dollar investments, and with further reform, Ghana is poised to become a leading energy hub in West Africa.

    The AEC will continue to support the country as it pursues this goal and looks forward to a productive working visit ahead,” said NJ Ayuk, Executive Chairman of the AEC.

    Distributed by APO Group on behalf of African Energy Chamber.

    SOURCE
    African Energy Chamber

  • African Leaders Unite to Mobilize African Investment and Financing for Implementing Agenda 2063

    African Leaders Unite to Mobilize African Investment and Financing for Implementing Agenda 2063

    ADDIS ABABA, Ethiopia, February 27, 2025/ — On the sidelines of the 38th Ordinary Session of the Assembly of the African Union Summit in Addis Ababa, Ethiopia, African Heads of State, Government and Business Leaders convened for a Presidential Breakfast Dialogue to address the continent’s financing and investment gaps. The event was held under the theme “Africa at the Forefront: Mobilizing African Investment and Financing for Implementing Agenda 2063”.

    The dialogue, which was hosted by His Excellency John Dramani Mahama, President of the Republic of Ghana and Champion on African Union Financial Institutions, in collaboration with the African Union Commission (AUC) and the Alliance of African Multilateral Financial Institutions (AAMFI), reaffirmed the continent’s commitment to accelerating self-reliant, sustainable economic development.

    In his keynote address, President Mahama emphasized the urgency of strengthening Africa’s financial independence through domestic resource mobilization, concessional financing, and strategic public-private partnerships. “Africa must harness its own financial and investment capacities to drive the transformative vision of Agenda 2063. We cannot continue to rely on external financing mechanisms that do not align with our long-term development goals,” he stated.

    Dr. Ngozi Okonjo-Iweala, Director General, World Trade Organization (WTO) emphasized the need for Africans to take charge of their own development by shifting mindsets and strengthening financial self-sufficiency.

    She Said, “The Africa Club is a crucial step toward looking inward and harnessing our own potential. However, we need to focus on four key priorities for Africa’s financial and economic transformation: Firstly, strengthening African financial institutions – If we are to finance our continent’s development, we must capitalize our own financial institutions, including national development banks, ensuring they have the resources to support Africa’s needs.

    Secondly, let’s address debt challenges to attract investment – we must focus on attracting and retaining investment, including foreign direct investment (FDI), and implementing coordinated strategies to leverage equity financing. Instead of relying on aid, Africa should push for partnerships that channel financial resources into investments.

    Thirdly, let’s leverage domestic resources – with over $250 billion in pension funds on the continent, we must tap into these resources for development. Strengthening our capital markets, integrating African financial institutions, and utilizing diaspora bonds can significantly boost Africa’s financial resilience.

    Lastly, let’s drive trade and economic growth – sustainable financing hinges on Africa’s ability to grow its economies, trade more, and add value to its products. Without economic expansion, the resources needed to bridge financing gaps will remain out of reach.”

    Speaking during the dialogue, H.E. Dr. Monique Nsanzabaganwa, Deputy Chairperson of the African Union Commission, highlighted Africa’s immense potential and the critical role of collaboration. “This is an exciting time for Africa, which has been stretching and renewing itself economically, politically, and socially in recent years. Only the grumpiest pessimists will bet against this new era of ‘Africa Time’ for its economic and social transformation as envisioned under Agenda 2063.”

    Dr. Nsanzabaganwa urged investors to seize the opportunities within Africa’s evolving economic landscape. “You will be right to have faith and believe in investing in Africa. The continent is perceived as the ‘new frontier,’ the ‘future paradise’ that sharpens a race to markets by an increasing number of investors.”

    Speaking on behalf of AAMFI, Prof. Benedict O. Oramah, Chairperson of AAMFI’s Governing Council and President of Afreximbank, underscored the significance of African financial institutions leading the charge in development finance. “AAMFI represents Africa’s collective financial strength, and through coordinated action, we will mobilize resources at scale to achieve Agenda 2063,” he stated.

    He further emphasized Africa’s need for financial solidarity in debt resolution: “We have developed a platform that will make it possible to jointly invest in projects that are impactful to the continent. There is no reason why the bridge across Congo Brazzaville and Congo Kinshasa should not be built, the cost is a mere US$500 million; there is no reason why railways cannot be built across Africa, at best they cost about US$1-2Bn. We cannot call for a reform of the international financial architecture on weak legs, no one will listen to us if they view us as mere beggars. We must rely on our own institutions and use this platform to leverage our individual and collective resources to transform our continent. Let’s strengthen our alliance to meet our set objectives.”

    The dialogue featured a high-level panel of distinguished leaders and finance experts, including: Dr. Donald Kaberuka, African Union (AU) High Representative for Financing of the Union and the Peace Fund; Samaila Zubairu, 1st Vice Chairperson, AAMFI and President & CEO of Africa Finance Corporation (AFC); Dr. Corneille Karekezi, 2nd Vice Chairperson AAMFI and Group Managing Director & CEO, African Reinsurance Corporation; Ahunna Eziakonwa, Assistant Administrator and Regional Director for Africa, UNDP; and H.E. Amb. Albert Muchanga, Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals, African Union Commission.

    Discussions centered on innovative strategies for mobilizing African capital, strengthening financial institutions, and leveraging the role of African Multilateral Financial Institutions (AMFIs) in financing critical development sectors such as infrastructure, industrialization, and trade.

    The event also witnessed special investment announcements:

    • African Trade Transformation Fund (ATTF), a groundbreaking USD5 billion concessional finance window initiative by Afreximbank to provide concessional financing to unlock new opportunities for African businesses and governments.
    • Shelter Afrique Development Bank (ShafDB) introduced the Catalytic Capital Replenishment Fund to bridge the housing and urban infrastructure gap in Africa which is reported to be a 53-million-unit deficit requiring $1.3 trillion to bridge.
    • The African Reinsurance Corporation (Africa Re) Group has pledged $1 million to the African Union Peace Fund. Additionally, the Corporation donated $500,000 to the Africa CDC during the COVID-19 pandemic and has now authorized the use of the balance for Mpox response efforts. The Group Managing Director further stated that Africa Re has committed 2% of its net profits to the African Re Foundation, which will allocate funds to support various initiatives across the continent, including disaster risk financing.
    • The African Solidarity Fund (ASF) established two key partnerships: a $320 million Guarantee Line to enhance access to housing credit and a $240 million Credit Line Guarantee to support women and youth empowerment, fostering entrepreneurship in the WAEMU.
    • Arab Bank for Economic Development in Africa (BADEA) launched a Debt for Equity initiative to support the capitalization of African Multilateral Financial Institutions by mobilizing resources from the Arab world towards sub-Saharan Africa.

    African Heads of State & Government, including leaders from Angola, Nigeria, Mauritania, Rwanda, Zambia, Libya, Kenya, Cote d’Ivoire, Benin, and Equatorial Guinea, reaffirmed their commitment to strengthening Africa’s financial ecosystem and supporting the growth of AAMFIs as key instruments of economic transformation.

    The event concluded with a unified call to action for African governments, financial institutions, and the private sector to strengthen coordination and build strategic partnerships to accelerate Africa’s development by His Excellency Ambassador Albert Muchanga, Commissioner for Trade and Industry at the African Union Commission.

    Distributed by APO Group on behalf of Afreximbank.

    For further information, please contact:
    communications@aamfi.africa

  • The Djibouti Forum returns for its second edition:a unique platform for investment and dealmaking in Africa

    The Djibouti Forum returns for its second edition:a unique platform for investment and dealmaking in Africa

    Djibouti City, Djibouti – 19 February 2025–The second edition of the Djibouti Forum, under the theme “Unlocking opportunities for regional and global growth”, will take place from the 6th to the 8th of April 2025.

    Organised by the Fonds Souverain de Djibouti (Sovereign Wealth Fund of Djibouti), this landmark gathering seeks to positively shape the African agenda while highlighting the Horn of Africa’s pivotal role as a catalyst for growth and development in the region.

    Positioned at the crossroads of Africa, the Middle East, and Asia, the eastern corridor of Africa is emerging as a powerhouse of innovation, trade, and development. The Djibouti Forum 2025 builds on this momentum to offer a unique platform for economic transformation.

    Through the visionary leadership of Djibouti policymakers, the Forum aims to identify and showcase investable opportunities in the region and across Africa, advance strategic partnerships and dealmaking and explore innovative solutions to drive sustainable growth across priority sectors.

    “Our Strategic Vision 2035 is to consolidate our role as a port and digital hub while diversifying our economy, promoting inclusive prosperity and strengthening our position on the international stage” stated HE Ismail Omar Guelleh, President of the Republic of Djibouti.

     “Djibouti is also promoting regional integration and helping to strengthen AfCFTA to stimulate economic growth and sustainable development in Africa and the Djibouti Forum stands as a critical platform for accelerating business opportunities across our region and the continent.”

    Following a successful first edition that gathered 46 expert speakers and representations from 280 institutions with a collective US$2.5 trillion in assets under management, the Djibouti Forum will return for a second time with an unparalleled network of policymakers, financiers, institutional investors, and industry leaders, to bring forward impactful dialogue and transformative opportunities.

    Bringing together key stakeholders, the Forum will serve as a gateway for dialogue, collaboration, and concrete action toward shaping the continent’s future. The objective of this strategic meeting is to deliver valuable insights and foment discussions on future megatrends and macroeconomic outlooks while tapping into new opportunities.

    Over 50 speakers will delve into critical themes shaping global markets, including public-private partnerships (PPPs), domestic resource mobilisation, and sector-specific insights spanning energy, logistics, hospitality, telecoms, technology and digitisation.

    Investors and policymakers will explore the favorable prospects offered by ports and new trade corridors in creating value chains while leveraging partnerships and alliances to further strengthen regional and continental integration.

    The Djibouti Forum connects decisionmakers, investors and developers to drive actionable outcomes and make an impact. This premier event presents a unique opportunity for high-level networking. Participants can access the full agenda and register directly on the Djibouti Forum website

    SOURCE

    The Djibouti Forum
  • More than 170 Countries to Participate in AIM Congress 2025 in Abu Dhabi Next April

    More than 170 Countries to Participate in AIM Congress 2025 in Abu Dhabi Next April

    Abu Dhabi, UAE, February 19, 2025: More than 170 countries have confirmed their participation in the AIM Congress 2025 International Exhibition, taking place as part of the congress’s fourteenth edition at the Abu Dhabi National Exhibition Centre from April 7 to 9.

    Under the theme “Mapping the Future of Global Investment: The New Wave of a Globalized Investment Landscape – Towards a New Balanced World Structure”, the event aims to redefine investment trends and drive economic growth.

    AIM Congress 2025 presents a unique opportunity for entrepreneurs, companies, investors, and governments to showcase ambitious projects, exchange insights, and forge strategic partnerships that enhance investments across diverse sectors.

    With an expected attendance of over 25,000 participants from around the world, the congress serves as an unmatched platform for financing opportunities, business expansion, and high-level networking with key decision-makers in the global investment landscape.

    The international AIM exhibition highlights sustainable development opportunities in the UAE and globally by showcasing innovative projects and initiatives, fostering job creation, and strengthening collaboration among participants to drive balanced economic growth in an era of accelerating challenges.

    The exhibition is dedicated to promoting foreign direct investment and exploring practical strategies to attract investors to various economic sectors. It is structured around eight key portfolios:

    • Foreign Direct Investment (FDI): Your Gateway to Global Growth
      International investors and startups will gain insights into the latest regulations, assess the impact of geopolitical factors on capital flows, explore emerging markets, and identify new investment destinations within a highly advanced and supportive business environment.
    • Global Trade: Maximizing Profits Across International Markets
      Exporters and importers will benefit from discussions on smart supply chains, trade finance solutions, and modern customs regulations, enabling them to expand their businesses and leverage strategic partnerships.
    • Startups and Unicorns: Incubating Innovation and Expansion
      Startups and ambitious investors will have the opportunity to connect with venture capitalists and financiers, present their ideas to global investors, explore the latest funding strategies, and learn from the success stories of unicorn companies valued at over $1 billion.
    • Future Cities: Building Smart and Sustainable Communities
      Engineers, real estate developers, and policymakers will explore practical solutions for smart infrastructure, renewable energy, and sustainable mobility, unlocking significant investment opportunities in urban planning and construction.
    • Future Finance: Preparing for the Next Financial Revolution
      Financial institutions and investors will gain valuable insights into evolving banking systems, digital financial transactions, and the future of fintech through engagement with industry leaders.
    • Global Manufacturing: Boosting Productivity with Advanced Technology
      Industrial companies and manufacturers will discover ways to enhance productivity, integrate smart manufacturing technologies, and optimize operational efficiency.
    • Digital Economy: Seizing Opportunities in the Virtual World
      The exhibition will bring together government agencies, tech firms, and investors to explore emerging trends in artificial intelligence, e-commerce, and cloud services, ensuring participants remain at the forefront of digital transformation.
    • Entrepreneurs: Driving Growth for SMEs
      SMEs will have the chance to present their innovative projects to global investors, participate in educational workshops, and gain expertise in financial management, digital marketing, and international expansion strategies.

    AIM Congress 2025 continues to serve as a premier platform for fostering global investment opportunities, facilitating knowledge exchange, and driving sustainable economic development.

    For more information, please visit: https://www.aimcongress.com

     

     

  • For a successful integration, Africa needs an operating system update (By Amadou Hott)

    For a successful integration, Africa needs an operating system update (By Amadou Hott)

    DAKAR, Senegal, February 19, 2025/ — Senegal’s official nominee for the position of President of the African Development Bank, Former Minister of Economy and planning, Senegal (www.AmadouHott.com).

    Ask any traveler about their experience moving across parts of Africa, and you will likely hear about familiar challenges: high costs, indirect routes, and unpredictable schedules that can make even the simplest journeys more complicated and costly.

    These travel hurdles highlight the immense opportunity to further strengthen Africa’s integration and unlock seamless connectivity across the continent.

    The potential is undeniable. According to the World Bank, the African Continental Free Trade Area (AfCFTA) stands to be the world’s largest free trade zone, encompassing 1.4 billion people and a combined GDP of 3.4 trillion USD. The African Development Bank projects that eliminating existing barriers could double intra-African trade within a decade from its current 15%; a figure that pales in comparison to Asia’s 60% and Europe’s 65%.

    Despite meaningful progress through the AfCFTA implementation led by regional economic communities, fulfilling this promise will require more efforts. Namely, Africa requires robust physical infrastructure and an operating system update to modernize institutional frameworks and encourage a new ecosystem of African-made goods and services.

    Africa’s integration challenge can be likened to building a cutting-edge computer system. Success first requires powerful hardware: the physical infrastructure forming the backbone. Currently, the continent faces an annual infrastructure financing gap between 130 and 170 billion USD to meet essential hardware requirements across transportation corridors, energy networks, and digital highways.

    While our international partners have historically played a crucial role In bridging this financing gap, the current geopolitical landscape demands a paradigm shift. Africa must take the lead in investing in its own hardware.

    The key lies in mobilizing African public and private capital first to build confidence among international partners and investors. Substantial capital can be generated within the continent through sovereign wealth funds, pension funds, high-net-worth individuals, and other sources.

    Development finance institutions like the African Development Bank must also play a transformative role by leveraging their expertise and credit ratings to channel this locally sourced capital into Africa’s development.

    The Alliance for Green Infrastructure in Africa (AGIA), launched by the African Development Bank in partnership with Africa50 and the African Union, exemplifies this approach, mobilizing project preparation and project development blended capital to build a 10 billion USD portfolio of green infrastructure projects with private sector participation from Africa and around the world. Regional energy integration, as highlighted by Mission 300 launched recently in Tanzania, is equally important.

    Beyond physical infrastructure, Africa’s integration requires modern software upgrades: the systems, policies, and institutional frameworks that power trade across borders. Digital solutions are key to enhancing business operations across borders and reducing trade barriers.

    While discussions often focus on physical infrastructure gaps, outdated manual processes frequently limit the effectiveness of existing assets. The Pan-African Payment and Settlement System (PAPSS) exemplifies this transformation, promising to save 5 billion USD annually by making cross-border payments simpler and more transparent.

    Moreover, pilot programs in East Africa have shown that applying blockchain technology to existing value chains could help reduce trade costs by 20%, enhance protection against fraud, and expand access to new markets for businesses across the continent.

    As African leaders convene at the AU Summit in Addis, we are at a pivotal time that requires action : the finalization of the Protocol on Digital Trade under the AfCFTA is a first step towards the bold transformation that we must operate. We must pursue economic transformation through infrastructure development and technology integration in our trade operations to evolve from a raw material exporter into an industrial and agricultural powerhouse.

    Beyond manufacturing value-added goods and value creation, our ability to integrate essential services -financial services, transport and logistics, education, and healthcare- will facilitate seamless business operations across borders. By positioning economic transformation at the heart of our integration agenda, Africa can advance up the value chain to generate wealth and create quality economic opportunities for all Africans, particularly our youth and women.

    With Africa’s youth population set to double by 2050, the urgency of this transformation cannot be overstated. By effectively mobilizing our own resources first, driving economic transformation, and building both the required software and hardware, we can successfully integrate Africa.

    This is Africa’s moment to move beyond being the world’s largest free trade area by membership to becoming its most dynamic and innovative economic powerhouse.
    Distributed by APO Group on behalf of Amadou Hott, Candidate for the Presidency of the African Development Bank Group.

    SOURCE

    Amadou Hott, Candidate for the Presidency of the African Development Bank Group